Ripple: Poised for a Rally or a Pullback?
Ripple (XRP) is trading inside a symmetrical triangle, a technical pattern that suggests a potential breakout. The XRP price, which is trading around $2.45, is approaching the upper line of the triangle, with a potential breakout if the price breaks above $2.56.
If this occurs, the technical target would be around $3.63, but traders should be wary that after a 17% rally, there could be a slowdown as the price approaches the psychological resistance of $3.00.
XRP’s RSI is at 61, suggesting that bullish momentum is underway, while the MACD is also poised to generate a positive signal. However, if XRP closes below $1.96, it could result in a drop to the next support at $1.40.
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